PROACTIS Announces Interim Results for the Six Months Ended 31 January 2016

PROACTIS, a global Spend Control and eProcurement provider, today announced its interim results for the six month period ended 31 January 2016.
Highlights include:
  • Reported revenue increased to £8.7m (31 January 2015: £8.4m)
  • Deal activity is buoyant with 23 new name deals (31 January 2015: 20)
  • Total Initial Contract Value signed on new deals was £3.7m (31 January 2015: £2.6m)
  • Order book significantly increased to £23.7m (31 July 2015: £19.7m)
  • Successful completion of the Due North Limited acquisition, adding more than 300 UK public sector customers with substantial cross-sell and operational synergy opportunities
  • Agreement with Flintshire County Council for the provision of Supplier Network and Accelerated Payment Facility over an extended five year term
Rod Jones, Chief Executive Officer, commented:
"I am delighted with the Group's trading performance with significant increases in year on year deal numbers and order intake. Most of these deals were SaaS based contracts which deliver revenue visibility, a more predictable cash flow and enhanced customer value for the long term. We continue to invest ahead of the curve in several areas, especially Supplier Network, Accelerated Payment Facility and an enlarged account management effort whilst retaining good levels of profitability.”
For further details, see the full PROACTIS Interim Results for the Six Months Ended 31 January 2016.
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